Monday, June 6, 2016
Mahendran Bashing is now reaching a crescendo as his term is up for renewal
It surprises me that even our intelligentsia are unable to rationally evaluate certain matters and become slaves to PIED PIPERS, in short leave their brains behind!
This is most definitely the case in the CB Governor Mahendran SAGA.
While I welcome the Monetary Board recommendations that the Treasury Auctions bear more transparency. http://www.ft.lk/article/545833/Monetary-Board-unveils-new-steps-for-Treasury-Bond-Auctions-transparency
While also will heed the advice of Chandra Jayaratne today with regard to EPF bond purchases, though not completely agreeing with his methodology,
I am shocked that Civil Society who don’t understand the nuances of Bond Trading are still at his throat in today’s Ceylon Today, article,
which is demanding his ouster, when as Civil Society they must know that the bigger fish are out there, none as competent as the CB Governor!
While it is irresponsible that they accuse him of embezzling billions, when there is NO proof of him taking anything at all, and that he needs to. Worse the article refers to respectable people like Rajith Keerthi Tennekoon of civil society making these uncorroborated claims, completely undermining his credibility henceforth in anything he says.
Why cant sensible people understand that the PM did not appoint him just because he knew his father! It is because he sincerely believed that as an international Banker, he would be able to renegotiate the Mountain of debt that has been bequeathed at rates better than anyone else you can think of.
I will challenge Tennekoon to suggest a better person to do that, who can just lift the receiver and make the call! He simply does not know what he is talking about.
If there is any innuendo that he helped his son-in-law, that is hogwash as that man had already made his big bucks during the MR administration, thanks to the Namals’ of this world sharing in the loot, so that he was at 27 able to buy Mendis Special for Rs3B, and now is able to make over a 1B in profits a year.
So no wonder he has the Primary Dealership that has the highest capitalization, 15 times the size of the nearest, and so could make billions in profits on the right bets on the interest rates, now they are AUCTIONED.
The problem is that in the past it was merely passed around at a predetermined price, where the Govt institutions were asked to buy, such as EPF, BOC NSB Peoples Bank etc. So you could argue they were shortchanged if they were FORCED to borrow at lower rates! Now it is market dictated and read Wejwardena's article in today's FT if you can understand it, to realize how he argues on interest rate risk and reward on long term bonds.
Prey tell me if any other Govt Minister or institution is under the Microscope! thanks to Mahendran NOW THE CENTRAL BANK that was a THIEVES DEN DURING CABRAAL is not under very tight control from both the Media, public, and pundits.
It is clear from all this that it is a witch hunt and that is all, by ignorant or biased people, who are unable to dig to find out the criminals in parliament who are robbing this Country Blind each and every day. They are NOT under scrutiny as our Media and the Civil Society Cretins don't have an ounce of brain in knowing where to look.
At least Mahendran had the decency to show you all where to look, and you are still blind, so what chance have you got in trying to find something when you don't know where to look in the first place!
The MIND BOGGLES as to why we don't have anyone with common sense in high places in this Country. So it is simply the blind leading the blind to the sea to drown.
I have tried to be fair in this article, by showing all links to people who are opposed to Mahendran, so that no one can say I am partial.
I just want the truly guilty to be brought to book for stealing US$20B from this economy over the past 12 years, and NOT get bogged down in trying to find a few bucks taken here, which cannot be proved either and certainly NO motive at all for theft.
In an impartial Court of Law it is clear who is most culpable of daylight robbery, and is it s surprise that the people have conspired to protect the thieves amongst them? NOT ONE IS IN JAIL TODAY FOR THAT HEIST